Winchester Virginia Residential Rent and Rental Statistics
The median monthly gross residential rent in Winchester, VA (the Winchester metro area) was $1,120 in 2019 according to the Census ACS survey.1 Average gross rent in Winchester was $1,035 in 2019. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2020 Winchester median and average rent data will be released in September of 2021.
Data is also available below for Winchester rental vacancy rates, Winchester rent as a percent of median income and the fraction of renters in Winchester.
Real Gross Rent in Winchester Virginia (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| Virginia Median Gross Rent | $1,254 | +1.37% | +3.29% |
| Winchester, VA Median Gross Rent | $1,120 | +8.63% | +3.42% |
Winchester, VA Real Gross Rent Trends
At $1,120, real median gross rent in Winchester was at its highest level in 2019 since the series began in 2005. At $1,035, real average gross rent in Winchester was at its highest level in 2019 since the series began in 2005.
Real Gross Rent in Winchester: Winchester VA Median, Winchester VA Average, Virginia Median, US Median
Real Gross Rent History for Winchester
| Date | US Median |
Virginia Median |
Winchester, VA Median |
Winchester, VA Average |
|---|---|---|---|---|
| 2019 | $1,097 | $1,254 | $1,120 | $1,035 |
| 2018 | $1,077 | $1,237 | $1,031 | $1,003 |
| 2017 | $1,043 | $1,216 | $982 | $942 |
| 2016 | $1,027 | $1,214 | $1,083 | $974 |
| 2015 | $1,017 | $1,214 | $984 | $989 |
| 2014 | $986 | $1,178 | $922 | $889 |
| 2013 | $953 | $1,144 | $937 | $833 |
| 2012 | $940 | $1,136 | $852 | $751 |
| 2011 | $941 | $1,147 | $898 | $790 |
| 2010 | $955 | $1,139 | $898 | $822 |
| 2009 | $960 | $1,127 | $1,025 | $937 |
| 2007 | $927 | $1,048 | $1,076 | $997 |
| 2005 | $910 | $1,015 | $993 | $973 |
Winchester Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2019 the rental vacancy rate for Winchester Virginia was 11.14% according to Census ACS data.
Rental Vacancy Rate in Winchester Virginia
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Virginia | 5.53% | +0.36% | -0.06% |
| Winchester, VA | 11.14% | +6.47% | +1.69% |
Trends in Winchester, VA Rental Vacancy Rate
The rental vacancy rate in Winchester peaked in 2007 at 14.99%. Since then it has fallen by 3.85% to 11.14%. Data records for this series originated in 2005. From a 2015 post peak low of 3.27%, the rental vacancy rate has increased by 7.87%.
Rental Vacancy Rate: Winchester VA, Virginia, US
Historical Rental Vacancy Rate data for Winchester
| Date | US | Virginia | Winchester, VA |
|---|---|---|---|
| 2019 | 5.97% | 5.53% | 11.14% |
| 2018 | 6.15% | 5.17% | 4.67% |
| 2017 | 6.18% | 6.45% | — |
| 2016 | 5.89% | 5.59% | 9.45% |
| 2015 | 5.85% | 5.13% | 3.27% |
| 2014 | 6.32% | 5.79% | 4.93% |
| 2013 | 6.49% | 6.38% | 6.48% |
| 2012 | 6.77% | 6.18% | 3.35% |
| 2011 | 7.40% | 7.54% | 4.42% |
| 2010 | 8.17% | 7.02% | 6.55% |
| 2009 | 8.43% | 7.29% | 7.60% |
| 2007 | 7.87% | 7.11% | 14.99% |
| 2005 | 7.74% | 7.20% | 5.70% |
Rent as a Fraction of Income
Using median household income data for Winchester, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For Winchester, median monthly gross rent as a fraction of median household income was 17.55% in 2019 according to the ACS.
Winchester Virginia Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| Virginia | 19.68% | -0.41% | -0.74% |
| Winchester, VA | 17.55% | -1.10% | -2.80% |
Trends in Winchester, VA Rent as a Fraction of Income
The fraction of median Winchester household income required to pay median monthly gross rent peaked in 2009 (relative to the 2005 series origin) at 22.24%. Since then it has fallen by 4.69% to 17.55%. From a 2017 low of 17.49%, the fraction of income going to rent has increased by 0.06%.
Fraction of Income towards Rent: Winchester VA, Virginia, US
Historical Data for Annual Rent as a Fraction of Income in Winchester Virginia
| Date | US | Virginia | Winchester, VA |
|---|---|---|---|
| 2019 | 20.03% | 19.68% | 17.55% |
| 2018 | 20.50% | 20.09% | 18.65% |
| 2017 | 20.13% | 19.78% | 17.49% |
| 2016 | 20.43% | 20.42% | 20.35% |
| 2015 | 20.63% | 20.72% | 18.33% |
| 2014 | 20.89% | 20.63% | 19.93% |
| 2013 | 20.78% | 20.80% | 19.40% |
| 2012 | 20.65% | 20.76% | 20.09% |
| 2011 | 20.70% | 20.59% | 19.64% |
| 2010 | 20.50% | 20.15% | 20.69% |
| 2009 | 20.12% | 20.00% | 22.24% |
| 2007 | 18.66% | 17.97% | 19.68% |
| 2005 | 18.89% | 17.96% | 19.16% |
Renter Fraction in Winchester Virginia
You can calculate the renter fraction in Winchester in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in Winchester as a fraction of total Winchester households. In 2019 27.76% of households were renters according to Census ACS data.
Winchester Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| Virginia | 33.87% | -0.21% | -0.84% |
| Winchester, VA | 27.76% | -3.03% | -0.28% |
Trends in the Winchester, VA Renter Fraction
The Winchester household renter fraction peaked in in 2013 at 35.53% and is now 7.77% below that level. The origin year for the series is 2005.
Fraction of Renting Households: Winchester VA, Virginia, US
History of Winchester Renter Fraction
| Date | US | Virginia | Winchester, VA |
|---|---|---|---|
| 2019 | 35.89% | 33.87% | 27.76% |
| 2018 | 36.05% | 34.08% | 30.79% |
| 2017 | 36.13% | 33.43% | 27.86% |
| 2016 | 36.88% | 34.71% | 28.04% |
| 2015 | 36.97% | 34.99% | 31.12% |
| 2014 | 36.90% | 34.67% | 33.44% |
| 2013 | 36.50% | 34.38% | 35.53% |
| 2012 | 36.09% | 33.84% | 33.56% |
| 2011 | 35.42% | 32.67% | 35.34% |
| 2010 | 34.65% | 32.33% | 34.47% |
| 2009 | 34.13% | 31.87% | 30.24% |
| 2007 | 32.80% | 30.49% | 26.68% |
| 2005 | 33.10% | 30.36% | 27.63% |
1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability. ↩
2. Real dollars are calculated using the CPI-U less shelter series. ↩
3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied. ↩
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